Independent Advisor Alliance Sells 520 Shares of MetLife, Inc. (NYSE:MET)

Independent Advisor Alliance lowered its stake in shares of MetLife, Inc. (NYSE:MET) by 2.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 24,447 shares of the financial services provider’s stock after selling 520 shares during the period. Independent Advisor Alliance’s holdings in MetLife were worth $2,016,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of MET. MeadowBrook Investment Advisors LLC boosted its stake in MetLife by 244.4% during the third quarter. MeadowBrook Investment Advisors LLC now owns 310 shares of the financial services provider’s stock worth $26,000 after buying an additional 220 shares during the period. Carmichael Hill & Associates Inc. raised its holdings in shares of MetLife by 131.9% in the third quarter. Carmichael Hill & Associates Inc. now owns 327 shares of the financial services provider’s stock valued at $27,000 after acquiring an additional 186 shares in the last quarter. Wolff Wiese Magana LLC raised its holdings in shares of MetLife by 374.3% in the third quarter. Wolff Wiese Magana LLC now owns 351 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 277 shares in the last quarter. Peterson Financial Group Inc. bought a new stake in shares of MetLife in the third quarter valued at about $30,000. Finally, Fortitude Family Office LLC raised its holdings in shares of MetLife by 177.3% in the third quarter. Fortitude Family Office LLC now owns 416 shares of the financial services provider’s stock valued at $34,000 after acquiring an additional 266 shares in the last quarter. Institutional investors own 89.81% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on MET shares. Wells Fargo & Company lifted their price objective on MetLife from $92.00 to $93.00 and gave the company an “overweight” rating in a report on Tuesday, November 5th. Piper Sandler boosted their target price on shares of MetLife from $85.00 to $92.00 and gave the stock an “overweight” rating in a report on Wednesday, October 2nd. Bank of America reduced their target price on shares of MetLife from $99.00 to $96.00 and set a “buy” rating for the company in a report on Thursday, August 1st. Barclays reduced their target price on shares of MetLife from $91.00 to $90.00 and set an “overweight” rating for the company in a report on Thursday, October 31st. Finally, Morgan Stanley reduced their target price on shares of MetLife from $86.00 to $85.00 and set an “overweight” rating for the company in a report on Monday, August 19th. Fourteen investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, MetLife presently has an average rating of “Buy” and a consensus price target of $88.46.

MetLife Price Performance

Shares of MET stock opened at $87.36 on Tuesday. MetLife, Inc. has a fifty-two week low of $62.81 and a fifty-two week high of $87.64. The firm has a market capitalization of $60.49 billion, a price-to-earnings ratio of 17.61, a PEG ratio of 0.79 and a beta of 1.05. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.16 and a current ratio of 0.16. The stock’s 50-day simple moving average is $82.68 and its 200-day simple moving average is $76.18.

MetLife Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Tuesday, November 5th will be given a $0.545 dividend. The ex-dividend date is Tuesday, November 5th. This represents a $2.18 dividend on an annualized basis and a yield of 2.50%. MetLife’s dividend payout ratio is currently 43.95%.

About MetLife

MetLife, Inc, a financial services company, provides insurance, annuities, employee benefits, and asset management services worldwide. It operates through six segments: Retirement and Income Solutions; Group Benefits; Asia; Latin America; Europe, the Middle East and Africa; and MetLife Holdings. The company offers life, dental, group short-and long-term disability, individual disability, pet insurance, accidental death and dismemberment, vision, and accident and health coverages, as well as prepaid legal plans; administrative services-only arrangements to employers; and general and separate account, and synthetic guaranteed interest contracts, as well as private floating rate funding agreements.